Greece Expands its Golden Visa program with New Investment Pathway

• Posted on Nov 18, 2024
• In Industry News, Europe, Greece

Greece Golden Visa 2.0

In a bid to diversify its successful Golden Visa program, Greece is introducing a new investment pathway focused on the startup sector. This move follows recent updates to real estate investment thresholds, marking a strategic effort to broaden Greece’s appeal to foreign investors.

Startups Join Real Estate Options

Despite previous speculation, the Budgetary Plan for 2025 confirms that the real estate investment route will remain part of the Golden Visa program due to its strong economic impact.
Carolina Figueiredo, Program Director of Greece at Arton Capital, confirmed “The Greek government has no intention of eliminating this option.  Alternatively, it seeks to establish Greece in parallel as a leading hub for international talent and investment”.
Rather than replacing existing options, Greece is enhancing the program by adding a startup investment pathway, encouraging more diverse and productive foreign investments.

New Startup Investment Criteria

The proposed startup investment option includes:

• A minimum investment of €250,000 in startups listed on the National Register of Startups (Elevate Greece).
• Maximum equity participation of 33% in company capital or voting rights.
• Creation of at least two jobs within the first year of investment.
• Workforce maintenance for at least five years.

The new option is expected by the beginning of next year, pending parliamentary approval.

Updated Real Estate Investment Thresholds

In September 2024, Greece adjusted the real estate investment thresholds for its Golden Visa program:

• €800,000 for properties (minimum 120 sqm) in high-demand areas such as Athens, Thessaloniki, Mykonos, Santorini, and islands with over 3,100 inhabitants
• €400,000 for properties (minimum 120 sqm) in other regions of Greece.
• €250,000 for acquiring and fully restoring historically or culturally significant properties.
• €250,000 for converting commercial or industrial properties to residential use (conversion must be completed before application submission).

These updates aimed to address the housing shortage caused by increasing property prices in popular areas while encouraging investment in lesser-known regions.

New Pathway, Broader Horizon

By introducing the startup investment pathway, Greece aims to create a balanced Golden Visa program that supports multiple sectors. This approach not only invites more foreign investment but also supports job creation and economic growth.
“Channeling investment into startups will foster innovation and empower emerging entrepreneurs,” Figueiredo concluded.
“We are optimistic, as offering diverse investment opportunities strengthens the program, benefiting both the country and investors through mutual growth and lasting impact,” she emphasized.

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